Tesla's Battery Ambitions Gets Stock Jumping

Tesla Motors Inc. shares hit a record high of $248 on Tuesday ahead of an expected announcement of a battery-production partnership in which the company would carve out a business making advanced batteries for itself and others.

Panasonic Corp., now the primary battery supplier for Tesla's $71,000-and-up electric cars, is in talks about investing in a nearly $1 billion battery factory in the U.S., according to Japanese business...